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    How do entrepreneurs come up with ideas ?

    How-do-entrepreneurs-come-up-with-ideas
    Credit: Pixabay



    Few days ago my friend called me, and asked me if this is my business idea. Will it work?

    To Be honest, I don’t have any answer. From that time I started thinking about how entrepreneurs come up with ideas?

    I did a lot of research and I found that 

    Most successful entrepreneurs get business ideas by these two methods: one is solving a problem within their own life or the other person’s life. 

    Second is they find the gap that already exists in the market and they do it much better than the competitors. This comes from the experience and knowledge about the market. Let’s look into what that means and what you need to do about it.

    How to find business ideas from problems for: How do entrepreneurs come up with ideas ?

    We face a lot of problems in our day to day life. If you solve the problem, it may be your own problem or another person’s problem in the simplest way, at a minimum possible cost that people are willing to pay.

    For example, Domino’s found a problem with getting fresh Pizza within 30 minutes. And they solved this problem in the best manner. And no-one can deliver Pizza under 30 minutes. This makes Domino's stand alone from competitors.


    How to find business ideas from observing the market for: How do entrepreneurs come up with ideas ?

    Observe the existing market and try to find out some gaps that no-one else is doing at this point of time. And find out what you can give better and different to the customers.

    For example, Google no.1 is a search engine in the world but did you know that before Google some search engines had already existed in the market. But Google focuses on great user experience. Google also became mobile friendly fast. Those things make Google unbeatable and different.